This will be a huge catalyst for BAC:
BEIJING, March 10 (Reuters) - China Construction Bank (601939.SS)(0939.HK), the country's second-largest bank by assets, expects its new lending this year to grow 10 to 12 percent without causing a significant rise in bad loans.
Guo Shuqing, the bank's chairman also said Bank of America (BAC.N) would sell part of its shares in the Chinese bank when the lock-up period is over, but he said any sale would not affect China Construction Bank's business
I would not trade Ken for any ceo in America. He is the right guy and history is on his side. His track record is already remarkable helping to transform a sleepy NC bank into the biggest bank in America. Not to mention his superb conduct throughout this period.
If you are short you should be very afraid now. BAC is having liquidity by the sale of shares in CCB. Then we have the Bank that came with ML that will net another cool $4Bil. The CEO is on record saying that they are making profit in the first quarter and that should be good news to the longs and bad news for shorts.